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Housing

Case-Shiller Price Index Gains, Sort Of

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By Douglas A. McIntyre Updated Published
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Money Stack ImageThe Case-Shiller housing price data is a lower-impact housing number because of the notion that the data is older than some other reports already on the market.  This morning’s data for May 2009 did show a fourth month in a row of improvement, but prices are still dropping on a year-over-year basis.  The reading came down by -17.1% in May for the 20-city reading and -16.8% for the 10-city index.  If you compare May to April, there were 16 of 20 markets that were either flat or up.  The 20-city index showed a reading of +0.5% sequentially from April, while the 10-city index showed a 0.4% gain sequentially.

Unfortunately, this is a rear view mirror read even for a lagging economic indicator.  We saw new home sales data and prices for June yesterday, and this data from the Case-Shiller is from May.  Again, this is like celebrating a birthday by taking a kid to pick out any gift of their choice…. at the dollar store.

JON C. OGG
JULY 28, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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